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Deadline for first IRA withdrawal is almost here Clients who turned 70 1/2 last year should remember that they have until April 1 to take the first required minimum distributions from their retirement accounts, according to this article in The Wall Street Journal. Many investors fail to take their first RMD before the deadline, facing hefty penalties as a result, says Kim Reingold of Fidelity Investments. "If an account owner fails to withdraw a RMD, fails to withdraw the full amount of the RMD, or fails to withdraw the RMD by the applicable deadline, the amount not withdrawn is taxed at 50%," Reingold says.   --The Wall Street Journal

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